11 Abstract W ith the development of the techn ology and economics, the project management graduall y becomes the focus of the management theol'y and practice. To stay competiti ve, companies are increasingly implementing initiati ves to improve their project deli very by continuall y reducing cycle times, minimizing costs, and controlling quality. These dimensions (quality, time, and cost) are also referred to as the Project Management T ri angle where each side represents a constraint. One side of the triangle cannot be changed without impacting the others. The time constraint refers to the amount of time available to complete a project. The cost constraint refers to the budgeted amount available for the project. The scope constraint refers to what must be done to produce the project's end result. These three con straints are often competing constraints: increased scope typicall y means increased time and increased cost, a ti ght time constraint could mean increased costs and reduced scope, and a ti ght budget could mean increased time and reduced scope. The di scipline of project management is about providing the tools and tec hniques that enable the project team (not j ust the project manager) to organi ze their work to meet these constraints. Project Management tries to gain control over these three vari ables taking account the uncertainty inherent to every project situation. It requires skilled people, standardi zed processes, and technology-unified and dri ven by effecti ve project management. Thi s thesis tackle thi s difficul t problem and proposes a general framework, based on the WBS th at can be implemented to combine earn ed value management, earn ed quality management and risk management in order to ' max imise' the likelihood of achieving project objecti ves (ti me/cost/qual ity). Key words: time, cost, quali ty, ri sk, project management. x

14 Introduction Project refers to the once-off endeavor made for creati on of unique product and service under restriction of a certain resource. Popularl y speaking, project is the once-off assignment made to reali ze the designed target and reach a certain quality under the restricti on of a certain schedule and cost. Project management refers to the project manager applies systemic theory and method to manage whole work in volving in the project under the condition of limited resource to make the project through planning, organi zati on, commanding, coordinati on, control and summati ve evaluati on in overall process from decision to implementation to reali ze the specific target of the project. T he project management is a scientific management means, whi ch emphases personal responsibility in leading style and practic ing project manager responsibility system, adopts temporary dynamic to organi ze form-project group in management structure, adheres to the target management under the benefit priority principle in management target and has more complete technical methods in management means. (Bai Sijun, 2003) T he human being has already learned to apply project management method to solve proble m in work and life as earl y as in remote antiquity. Project management has intentionall y or unintentionall y been applied in the constructi on progress of the G reat W all in C hin a as weil as the Pyramid in ancient Egypt. T he budding of modern project management took pl ace in the 20th century 40s and the more typical case is the Manhattan Project of the American military to develop atomic bomb. Any review of how project management evolved must include a brief insight into how projects have pl ayed a key ro le in the initiati on of change in the societi es of antiquity. One could think for example to the grand canal of China, to Prince Henry the navigator ( ) who developed and operated what could be called today a research and development laboratory, to the constructi on of a new city in the notth of Russia, St. Petersburg.

15 In more recent times, other prajects have played key raies In changing society as the following: ~ The panama canal, in the 1860s, a project which was initiated to join the continent of North America ~ The Manhattan Project for the development delivery of the atomic bomb had a major impact on the strategy for the winning of World War II by U.S. The method of project management has been widely applied in 50s-60s of 20th century. The project management in that time had more scientific systemic method with the key dut Y of project implementation and mainly was applied in national defense and building industry. It was a period for the theory and method of project management to rapidly broadcast in the world and go toward modernization in 70s-80s of 20th century, which expanded to various types of civil projects form military project and aerospace project and initially formed the frame of modern project management. The project management has experienced new development since 90s of 20th century. In order to meet the challenge of economic integration in the market with rapid change and cutthroat competition, project management has paid more attention to the factor of human, customer and fl exible management to strive for the surviving and development in the revolution. In this stage, the applying fi eld of project management has further ex panded, especially realized rapid development in new emerging industry such as the modern project management fi elds including telecommunication, software, information, finance and medicine. Today, there are four large project management associations in the world, three of us are professional associations (IPMA, AFITEP and PMI) and the fourth (IRNOP) is a researchers association. The first one (see h ttp ://~.!~\I.i pma.c h /as p / ) is the association headed by E uropean professionals and researchers, i.e. International Project Management Association (IPMA). IPMA presided to hold the first international meeting in Vienna in 1967, which has become a mark to establish the project management as a subject. The main members of IPMA are project management committees of each country. At present, there are 28 country organizations being its formai members representing more th an 20 thousand members in the world. The individual 2

16 member in formai member organi zati on can automati call y become the individual member of the associati on. IPMA is responsible to coordinate th e requirements of project management with general character in the world and provide wide-range products and services including research and development, training and education, standard and certificate as weil as ho Id various workshops to study relevant theory knowledge of project management. PMI is a non-profit professional association in the leading level of intern ati onal project management field, which is responsible to establish management standard, prov ide services such as scholar exchanges, educati on procedure and professional certificate and whose members are mainl y the experts from enterpri ses, uni versities and research institutes. The ex iting members have been over 70 thousand. These two in stitutes prov ide perfect carrier fo r the study on project management and have made great contribution to the research and development of project management. The second is the professional associati on headed by American professionals (see ), i.e. Project Management Institute (PMI). The members of PMI are mainl y the experts from enterprises, un iversities and research in stitute, which develops a set of project management system-pmbok. T hi s kn owledge system divides the project management in to 9 knowledge fields including range management, time management, cost management, quali ty management, hum an resource management, communication management, risk management and comprehensive management. The Intern ational Organization for Standardizati on fonnulates IS standard relevant to management with thi s file as framework. By now, the deep study on project management started by relevant project management research insti tutes at home and abroad fro m 60s of last century has acquired rich result. For example, PMI published the first special report related to project management research in project management magazine in August of 1983, and based on thi s, il fonnall y publi shed a unique project management document named 'The Project M anagement Body of Knowledge' (PMBOK) in August of 1987 with 4-year continuous research. In 1996, PMI published A Guide to The Project Management Body of K nowledge (PMBOKGUIDE) to replace PMBOK of 1987 as project management standard. The Intern ational Organi zation for Standardization (ISO) fo rmulated intern ati onal standard ISO of project management on 3

17 December 15, 1997 based on PMBOK GUIDE of 1996 edition by PMI. At present, thi s standard has upgraded to 2000 edition and more recentl y to the 2004 edition. The third associati on is the one headed by French professionals ( i.e. Association F rancophone De Management De Projet (AFITEP). The members of IPMA mainl y came from project management organizati on representing each country, which registered in Switzerl and in the year of 1965 and is a non-profit organi zation. The organi zati on pays much more attention to the qualificati on certificate of personnel. Generally speaking, the certificate of project management personnel is di vided into four levels including A, B, C and D with very large difference of level standard between each level. Finall y, IRNOP (see ) was founded in 1993 as a network of researchers and have developed from there, adding researchers in countries ail over the world. The IRNOP network connects scholars with a background in business, economics, engineering and other fields, with a common interest in projects, project organi zati ons and temporary systems. In China, the studies on project management systems and industry practi ces have started later. F rom 50s of 20th century to 80s, project management was regarded as the acti vities in small range to devote to estimati on and planning to reali ze specific target, whose main contents included four aspects, i.e. range management, time management, cost management and human resource management. T he application of project management has graduall y expanded to other fields since 80s such as telecommunicati on industry, software development industry, pharm acy industry and finance industry. The project management with true meaning started from Lubuge Hydropower Stati on Project, a project with World Bank loan. Lubuge Hydropower Stati on firstl y adopt intern ational bidding at home in 1984 and implemented project, which shortened the construction peri od, reduced building cost and reali zed apparent economic benefit. After that, the Constructi on M ini stry, Chemical Industry Ministry, Electric Power M ini stry and Coal M ini stry have successively developed training and certificate system of relevant technical personnel related to project management. By 90s of 20th century, ail large projects in China basicall y adopted project management mode including project fund system, legal person 4

18 responsibility system, contract system and construction supervision system such as Xiaolangdi Water Conservancy Project, the largest water control project in Yell ow Rive bas in, Daya Bay Nuclear Power Stati on and Three Gorges Project gained the focus of the world attention. Project Management Research Committee was founded in China formally implemented B idding and Tendering Law on February 1,2000, which in vol ves in many aspects of project management and provides law guarantee for the stable and health development of project management. In order to meet with the world, the project management committee of Chin a joined in IPMA, after that the academic exchanges acti vities with IPMA have been increasing frequent. However, generall y speaking, the development level of project management in China is still in elementary stage with shortage of project management talent and lagging behind of method and techn ology, there will need some time to meet with the world. The modern project management has spread abroad in China since 60s of 20th century. China translated and published Program Evaluati on and Review Technique Base and translati on collection of New Program Evalu ati on and Review Technique separately in 1965 and In 199 1, Project Management Committee of China was founded with full name of Chinese Society of Optimization, Overa ll Pl anning and Economic Mathematics Project Management Research committee (Project Management Research Committee, China for short, PMRC or PMRCC for abbreviati on), which is affili ated to North west Polytechnic Uni versity and whose competent department is Chinese Society of Optimizati on, Overall Planning and Economic Mathemati cs founded by Professor Hua Luogong, the famous mathematician of China. At present, the members of PMRC have spread in 29 prov inces, cities and municipalities ail over the country. It mainly engages in the populari zati on and application of project management, constructi on and development of project management subject and communicati on and exchanges at home and in the world. It edits an inner publicati on named Project Management. PMRC is a member organi zati on of IPMA. However, it is still onl y a second-ievel in stitute. At present, there still is not a professional publicati on of project management published formall y in China. In addition, the domestic research institute also includes Zhongke Project Management Research Center, Beijing, which builds Project Management Web of China in Intern et along with Training Center for Leaders from Economic Field, the State Economic & Trade Commission to centralize project 5

19 management experts, professors and project management high-grade engmeer with superexcellent achievements from Chinese Academy of Science and relevant uni versities to drive project management level in China to rapidly improve. China National Chemical Engineering Corporation has started orgalllzlilg ex perts to independentl y develop Engineering Project Comprehensive Management System (IPMS) of Chinese themselves based on the intern ational general project management principle under the leadership and support of Construction Ministry and original Chemical Industry Ministry since 90s of last century. This system was formally completed in 1996, revised in 1998 and formally published and issued by Chemical Industry Publishing House, which includes 3 large parts, i.e. Practical Manual of E ngineering Project Management (PMM), Basic Data of Engineering Project Management (PMD) and Engineering Project Management Software (PMS), of which, PMS has upgraded to 2000 edition. Moreover, overseas project management software have also entered into China's market, such as Primavera Project Plan of American Primavera Company, i.e. 3P or P3 software and Project2003 project management software of Microsoft Company. Project management can be seen as a sociall y constructed field of practice that has developed from tools and techniques designed to support the management of major projects, from the conversations of practitioners and from their deliberate efforts to define a field of practice through definition of a di stinct body of knowledge and associated standards. Fundamental to this is recognition of projects as phenomena with shared characteristics (Crawford, 2006). T he first signs of project management as a di stinct field of practice were the network analys is and planning techniques, like PERT and CPM, that emerged in the 1950s for use on major projects in construction, engineering, defence, and aerospace industri es (Kerzner, 1979; Morris, 1994; Stretton, 1994). Users of these tools and techniques recognized shared interests leading to the formation of project management professional associations in the late 1960s, initially to fac ilitate knowledge sharing between practitioners. 6

20 T he mid-1990s were a crucial point in the development of project management standards and related certificati on programs. Indicative of the conception of project management at thi s stage in its development, ail of the emerging standards focused on stand-al one projects and indi vidual project management practitioners. The Project Management Institute issued A Guide to the Project Management Body of Knowledge in 1996, and in the same year the Associati on fo r Project Management in the U.K. issued the Third Edition of its Body of Knowledge. The Australian and U nited Kingdom governments endorsed performance-based competency standards for project managers in 1996 and 1997, respectively. The British Standards Board also issued their Guide to Project Management in The Intern ati onal Project Management Association issued their IPMA Competence Baseline in From the mid-1 990s onward, interest in project management grew progressively stronger, with a move towards the concept of project management as an organi zational capability, fu elled by a series of articles in PMNetwork by Dinsmore (1996) who has consistently acted as a chroni cler of project management practi ce. In thi s peri od al so, an interest in benchmarking of corporate project management practi ces emerged. Two notable initiati ves were the PM I-supported Fortune 500 Project Management Benchmarking Forum, which was fo rmed in the mid-1990s, and the Human Systems Knowledge Network, which started collecting organi zati onal project management practice data and facilitating knowledge sharing between corporate owners of project management in Both initiati ves have contributed to the development of the concept of organi zati onal project management capability through publicati on and conference presentations. Meanwhile, the majority of key project management professional associati ons have broadened their attention From facilitating the knowledge sharing and professional development of individual practitioner members to engaging and addressing the needs of what they term "corporates" either as a new c1ass of membership or in other ways as key stakeholders. T hi s change fro m focus on the indi vidual project and practiti oner to project management as an organizati onal capability refl ects the wider adoption of project management and a change in the nature of the concerns and conversations of thi s broader group of practitioners. When the 7

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